Ethereum Price Down 10% – Arthur Hayes Believes ETH Will Return to $200 in a Year10

After a day of no movement, cryptocurrency markets dropped another 5% come Thursday. Most coins are in the red at the time of writing including Ethereum which is down almost 10%. ETH price dropped sharply from $124 to the current $117 in a matter of an hour, not a pleasant sight to look at.

As everybody is anticipating the New Year, trading volume is declining after the short bull run on Christmas eve. Though markets dropped quite a few percent, they are still above early December levels. Ethereum still has strong support at the $100 level, and the chance that it will test this support before the New Year is slim.